Arab Today, arab today retail stocks lead us equities lower
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Arab Today, arab today
Arab Today, arab today

Retail stocks lead US equities lower

Arab Today, arab today

Arab Today, arab today Retail stocks lead US equities lower

New York Stock Exchange
New York - AFP

 Retail stocks, including tech giant Apple, led the broader market lower Monday following a disappointing accounting of the "Black Friday" shopping weekend.
At the closing bell, the Dow Jones Industrial Average stood at 17,780.97, down 47.27 points (0.27 percent).
The broad-based S&P 500 fell 14.04 (0.68 percent) to 2,053.52, while the tech-rich Nasdaq Composite Index sank 64.28 (1.34 percent) to 4,727.35. Apple's 3.3 percent drop weighed on both the Nasdaq and the S&P 500.
Retailers ranging from shopping giant Wal-Mart (-1.5 percent) to department store Macy's (-2.7 percent) and electronics vendor Best Buy (-5.5 percent) suffered after the National Retail Federation said that a survey of consumers estimated that the average weekend shopper spent 6.4 percent less than a year ago.
The day after Thursday's Thanksgiving Day holiday, known as "Black Friday," unofficially kicks off the critical year-end shopping season.
"It was a tough day for anything that is tied to the consumer," said Michael James, managing director of equity trading, Wedbush Securities.

 

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